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LINCOLN N.C. REALTY FUND ANNOUNCES SHAREHOLDERS MEETING ADJOURNMENT, DIVIDEND DECLARATION

 PALO ALTO, Calif., Nov. 27 ~PRNewswire~ -- Lincoln N.C. Realty Fund Inc. (ASE: LRF; PSE)(the "company") announced today that its board of directors adjourned until 11 a.m. (Pacific Standard Time) on Dec. 30, 1992, the Special Meeting of Stockholders, scheduled for today. The adjournment was necessary to provide the company additional time to resolve certain issues that have arisen in connection with the sale of the company's Wrigley Creek Property, the terms of which sale were disclosed in the company's Proxy Statement dated Oct. 2, 1992.
 In particular, the company and the buyer of the property have not yet agreed upon the price concessions necessary to compensate the buyer for the early termination of one tenant's lease and for certain deficiencies in the physical condition of the property. In addition, the buyer has not yet completed, to its satisfaction, its due diligence investigation with respect to the environmental condition of the property. The company may incur additional costs in order to resolve such outstanding issues to the buyer's satisfaction. The company will distribute an addendum to the Proxy Statement describing the revised sale terms as soon as possible.
 Dividend Declaration
 The company also announced today that its board of directors had declared on Nov. 25, 1992, a quarterly dividend for the fourth quarter of 1992 in the amount of 10 cents per share payable on Dec. 28, 1992, to shareholders of record on Dec. 11, 1992.
 LNCRF is a real estate investment trust. Its securities are listed on the American and Pacific stock exchanges. The company's principal executive offices are located at 645 High St., Palo Alto, CA 94301 and its telephone number is 415-329-8867.
 -0- 11~27~92
 ~CONTACT: William F. Garlock of Lincoln N.C. Realty Fund, 415-329-8867~
 (LRF)


CO: Lincoln N.C. Realty Fund Inc. ST: California IN: FIN SU: DIV

RS-SG -- SJ001 -- 1767 11~27~92 10:00 EST
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Date:Nov 27, 1992
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